EUR/USD New York Price Forecast: Euro corrects steep February decline, trades above 1.0850 level


  • EUR/USD is correcting higher while bouncing from 34-month lows.
  • The corrective move up is seen accelerating above 1.0883 resistance. 
 

EUR/USD daily chart 

 
EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the quote is correcting up from 34-month lows. The spot is also trading just below the 2019 low. 
 

EUR/USD four-hour chart

 
EUR/USD broke below a bear channel and is now bouncing from the 1.0800 level. As the market is consolidating above the 50 SMA, buyers are probably looking for an extension of the reversal up on a break beyond the 1.0883 resistance en route towards the 1.0923 and 1.0985 price levels. Support is seen near and 1.0800 and 1.10754 price levels, according to the Technical Confluences Indicator.  
 
 
Resistance: 1.0883, 1.0923, 1.0985
Support: 1.0800, 1.0754 1.0660
 

Additional key levels

EUR/USD

Overview
Today last price 1.0865
Today Daily Change 0.0013
Today Daily Change % 0.12
Today daily open 1.0852
 
Trends
Daily SMA20 1.0925
Daily SMA50 1.1044
Daily SMA100 1.1058
Daily SMA200 1.1104
 
Levels
Previous Daily High 1.0872
Previous Daily Low 1.0805
Previous Weekly High 1.0864
Previous Weekly Low 1.0778
Previous Monthly High 1.1225
Previous Monthly Low 1.0992
Daily Fibonacci 38.2% 1.0847
Daily Fibonacci 61.8% 1.0831
Daily Pivot Point S1 1.0814
Daily Pivot Point S2 1.0776
Daily Pivot Point S3 1.0747
Daily Pivot Point R1 1.0881
Daily Pivot Point R2 1.091
Daily Pivot Point R3 1.0949

 

 

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